April 15, 2015
What should policymakers do to improve financial literacy?
Policymakers should see financial literacy education as life-long learning and should mandate personal finance education. Financial education can help individuals to be informed consumers which helps them make better financial decisions. Financial literacy could be provided through different entities based on different stages of life such as school, college, and the work place. However, policymakers have to ensure that those who provide personal finance education are competent to teach and deliver financial education to the audience based on the audience's background and needs.